January 17, 2007

Wanna start a company? Good news!! India is 88th best country of this world to start a business. You have to go through, on an average, 11 procedures each spanning around 35 days. Not only this, once you have set up your business, India is the 134th best country of this world to carry on with ease.

Add to this, there are 175 countries only.

No wonder hardly anyone will go out on a limb to take this less trodden path. Statistics aren't so encouraging but I read somewhere that 57% of the statistics are useless :) and also the fact that the above survey by World Bank(in 2006) has placed Afganistan much above India for starting a business. I don't believe them, more because I don't wish to. With Taliban, Al-Qaeda, female suppression et al, they can't be better than India at least.

Sad but true, Enterpreneurship isn't really in Indian blood. Till a decade ago, anyone who thought of setting up a new company would have been pelted with stones(exaggeration allowed!). Life revolved around finishing studies quickly and bagging a job, especially govt. job, which ensured a luxurious(??) life against any financial drought. The advent of IT, resulted in unprecedented growth of places like Bangalore and Gurgaon and lately small industries have been spotted mushrooming around. They aren't even a handful considering the enormity of India, but better than nothing. Enterpreneurship in India has two big examples- one a company and other an individual. The Tatas and Birlas always had their legacy. Infosys, started by 7 someones in 1981, is the torch-bearer of enterpreneurial India. One man you can always look upto is Dhirubhai Ambani. His story from rags to riches is fascinating and inspiring. Besides these few, there haven't been many tides in the unexplored deep ocean.

Lately, there has been spurs. I've heard of people around me talking of setting up thier own company.The outlook towards self-establishment has broadened. With growing economy and more liberalized scenario, even young people of age-group 22-30 are setting up new firms. Fresh college graduates, people with 1-5 years work experience or older have started their own businesses in chosen sectors.Ofcourse, there are serious advantages. You can start your career as CEO/MD/Chairman :). Most of the startups are in field of IT or are internet-based because they're hot and skill-set is abundantly available. Some of them have very interesting concepts. All India Deals , which considers itself as a shopping-friend, is based on simple concept of searching online stores for best deals and discounts. Remember, e-bay started like this only. Some new companies tie-up with shopping malls, multiplexes etc. and give out cards which reaps benefit to the customer and ensures their continued visits. There are many other sectors which are largely unwashed by the enterpreneurial wave. I just hope that more people will jump in and join this bandwagon. There are people who are skilled, ambitious and willing to take initiatives. Indians have all the right ingredients to cook this recipe and serve to the world.